New York Life Investment Management LLC Invests $1.10 Million in UiPath Inc. (NYSE:PATH)

New York Life Investment Management LLC bought a new stake in shares of UiPath Inc. (NYSE:PATH) in the 4th quarter, HoldingsChannel.com reports. The fund bought 44,263 shares of the healthcare company’s stock, valued at approximately $1,099,000.

A number of other hedge funds have also recently added to or reduced their stakes in PATH. Victory Capital Management Inc. grew its holdings in UiPath by 64.3% in the fourth quarter. Victory Capital Management Inc. now owns 74,351 shares of the healthcare company’s stock valued at $1,847,000 after purchasing an additional 29,111 shares during the period. Van ECK Associates Corp acquired a new stake in UiPath in the 4th quarter valued at $282,000. Cypress Capital Management LLC WY purchased a new stake in UiPath in the 4th quarter worth $29,000. Russell Investments Group Ltd. raised its position in UiPath by 23.7% during the fourth quarter. Russell Investments Group Ltd. now owns 38,584 shares of the healthcare company’s stock worth $958,000 after acquiring an additional 7,382 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of UiPath in the fourth quarter valued at about $80,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at UiPath

In other UiPath news, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.84, for a total transaction of $365,440.00. Following the completion of the sale, the chief financial officer now directly owns 87,505 shares in the company, valued at $1,998,614.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.03% of the stock is currently owned by corporate insiders.

UiPath Stock Performance

PATH opened at $20.01 on Wednesday. The stock has a market capitalization of $11.39 billion, a PE ratio of -117.71 and a beta of 1.01. UiPath Inc. has a one year low of $12.89 and a one year high of $27.87. The business’s 50 day moving average price is $21.67 and its 200 day moving average price is $21.75.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.10. The business had revenue of $405.25 million for the quarter, compared to analyst estimates of $383.32 million. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. As a group, equities research analysts forecast that UiPath Inc. will post -0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PATH. Canaccord Genuity Group upped their price target on shares of UiPath from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. BMO Capital Markets lifted their price target on UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note on Thursday, March 14th. TD Cowen increased their price objective on UiPath from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. raised shares of UiPath from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $22.00 to $28.00 in a research note on Thursday, March 14th. Finally, Evercore ISI boosted their price target on shares of UiPath from $24.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.41.

About UiPath

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.